In trading things like this happen, it's a bad day for you and my sympathy is with you, this calls for extra carefulness when next you want to be engaged in a trade because if you aren't careful enough, obviously you have an example of what the expected outcome can be, on the other had if it ha done in your direction I believe by now it would have been celebration because you would definitely made much more.
My advice is to apply extra care as I believe this wouldn't be the end for you, you would want to engage in more trades in the future, when trading always ensure to be as calm as possible, avoid every possible distraction so you don't make mistakes as this and if possible always double check before placing trades so you don't make costly mistakes.
Topic: Something terrible happened to me today (Read 219 times)
Do not just conclude that he is a beginner...
Well, if you think that an experienced trader might not have noticed that they have opened an order with a leverage of x25, you can continue to believe it) Anyone can make a mistake, but an experienced trader, unlike a beginner, will not try his luck and noticing that he opened an order incorrectly, he will immediately close it.
I have been having a very good October until few hours ago. I short a coin, I wanted to use 1x margin ratio but I mistakenly used 25x which got my trading money liquidated.
If I have used 1x leverage, I would have won today with my strategy.
In using leverage you must really be able to control how much your money limit as your trading liquidity, my strategy I will not use more than 5% of the total money I have if using a large leverage like more than 10x because it will quickly eat money quickly If you think like that, and again why do you choose the short position? Do you think that you will return the same thing as a few days ago Bitcoin has decreased to the price of $ 58K?, although it seems red but for me personally I am not accustomed to shopping especially at the moment of Bullish in Q 4 now, it will only be like suicide. If I have used 1x leverage, I would have won today with my strategy.
I have been having a very good October until few hours ago. I short a coin, I wanted to use 1x margin ratio but I mistakenly used 25x which got my trading money liquidated.
If I have used 1x leverage, I would have won today with my strategy.
That’s so sad to hear, mistakes like this are always costly that’s why we need to very careful with our trading because we all know how risky it can be and even without mistakes it is risky so that is why we can’t afford to be making mistakes in trading. If I have used 1x leverage, I would have won today with my strategy.
I feel so bad for you, but also this should serve as a lesson, when entering a trade, you should make sure you are very careful. Whenever you are busy or stressed, then you shouldn’t enter a trade, or you might end up doing the wrong thing without even knowing until thing goes wrong. I hope you didn’t lose so much money, and I hope you didn’t enter the trade with all the money you had. I will say most traders have made this kind of mistake before, something like this has happened to me multiple times before. We just have to learn from our mistake, you shouldn’t give up, or feel so bad about it.
Definitely it will now serve as a lesson to him and also not just him it will serve as a lesson to other traders as well. We shouldn’t think of entering a trade when we are not feeling okay, if something is bothering us or when we are stressed or busy we should not enter into a trade until we feel better else we will risk losing our money. It is normal to lose money in trading but when you make silly mistakes that can be avoided you will feel very bad about it but it is all part of trading experience, we learn from our mistakes to become a better trader so Op shouldn’t let it weigh him down too much.
I have been having a very good October until few hours ago. I short a coin, I wanted to use 1x margin ratio but I mistakenly used 25x which got my trading money liquidated.
I feel so bad for you, but also this should serve as a lesson, when entering a trade, you should make sure you are very careful. Whenever you are busy or stressed, then you shouldn’t enter a trade, or you might end up doing the wrong thing without even knowing until thing goes wrong. I hope you didn’t lose so much money, and I hope you didn’t enter the trade with all the money you had. I will say most traders have made this kind of mistake before, something like this has happened to me multiple times before. We just have to learn from our mistake, you shouldn’t give up, or feel so bad about it. 
Do not just conclude that he is a beginner...
Well, if you think that an experienced trader might not have noticed that they have opened an order with a leverage of x25, you can continue to believe it) Anyone can make a mistake, but an experienced trader, unlike a beginner, will not try his luck and noticing that he opened an order incorrectly, he will immediately close it.
I have been having a very good October until few hours ago. I short a coin, I wanted to use 1x margin ratio but I mistakenly used 25x which got my trading money liquidated.
If I have used 1x leverage, I would have won today with my strategy.
If I have used 1x leverage, I would have won today with my strategy.
Looking at your past trading for this month only, it shows that your strategy is profitable and you’ve been making some profits in the past before this liquidation happened to you today. It’s unusual for that to happen for how far you’ve come with your trading, always ending the day with profits. If you’d not had this many wins and the leverage used today just blew up your account, many will assume you were trying to get quicker profit than usual which may be caused by greed and lead to the total loss of your capital. 25x leverage is a big ratio when compared to the 1x leverage you wanted to use. You need to be more careful next time, mistakes like this can’t be averted, sorry for the loss.
I have been having a very good October until few hours ago. I short a coin, I wanted to use 1x margin ratio but I mistakenly used 25x which got my trading money liquidated.
If I have used 1x leverage, I would have won today with my strategy.
If I have used 1x leverage, I would have won today with my strategy.
Its such a pity, i guess you might have done that in a rush or you carelessly didn't observe well when you're making the decision, sometimes, we have to be more attentive to what we are doing, trading comes with its own demand and we cannot be engaged in doing other things when we are trading in other to avoid divided mind.
I will encourage you by saying that you shouldn't worry, there are more many opportunities ahead and which you can use to make it back with your trade, only have to be more patient and careful for that time to repeat itself once more.
I very often see how beginners, after several successful trades, decide to increase their leverage in order to increase their profit in this way and eventually lose their deposit. Your story is very similar to what I described earlier.
He actually described the reason why and how it happened here:
The long leverage was 1x while the short was 25x. I only looked at the long and went for short position as I thought it was 1x. It happened and it was too late when I realized.
Judging from his knowledge about trading and the start few days of his PnL history on that screenshot, I can say he isn't a beginner in the market but only in the forum. A person joining this forum after being in the market for some time will be judged as a beginner but he doesn't need to be a beginner when it comes to cryptocurrency knowledge and understanding.
@OP, just like everyone else, I think it's an unfortunate occurrence, but things can't be reversed. What's important is to learn and move on, that's what a good trader does. Wins bring you profit and money, while losses bring you lessons and experiences.
Do not just conclude that he is a beginner. I do not think a beginner can be able to win from the 1st day of October to the 9th day. I remember when I started to trade, beginner traders can not win all days. There is high possibility that a trader will forget to edit the leverage and use a very high leverage to open a position. And if the market go against the position's direction, the liquidation may be very fast.
Even if he is a beginner let’s assume beginners luck I would advice him to stick to the strategy that he has been using because from what I see here it is working for him and he can only make corrections from losses and sadly this particular Loss is a hard one but that’s how trading is, these are the trades that actually tests your psychology now OP needs to build on his risk management and hopefully he will bounce back as I pray this shouldn’t be his only capital left that just got liquidated.
This particular case senerio is never a beginner thing, most exchanges actually chooses a predetermined leverage for you and some leave leverages from other pairs there even when you switch the pairs. For example i onced used a 50x on btcusdt which we all know is not that volatile like the other pairs and when I wanted to switch to another pair the 50x was there I had only noticed when I went to set my stop and saw the price high luckily I was able to change it but if I had got Carried away I would have faced same fate as OP
I think you are not the only one who experiences such an incident, my friend, there are many people who make mistakes unintentionally just because of lack of attention, and therefore this is why trading must be done with a high level of focus and this is also the reason why a trader who is having other problems that make them feel stressed is really prohibited from running a trading session at certain times.
It is none other than when you trade at the wrong time or place, then there is a great possibility for various unwanted possibilities to occur due to an error that should not be necessary, but on the other hand this is why there is a saying that experience is the best teacher, I hope you can be more careful when you want to trade in the future so that such incidents do not happen again.
It is none other than when you trade at the wrong time or place, then there is a great possibility for various unwanted possibilities to occur due to an error that should not be necessary, but on the other hand this is why there is a saying that experience is the best teacher, I hope you can be more careful when you want to trade in the future so that such incidents do not happen again.
I very often see how beginners, after several successful trades, decide to increase their leverage in order to increase their profit in this way and eventually lose their deposit. Your story is very similar to what I described earlier.
Do not just conclude that he is a beginner. I do not think a beginner can be able to win from the 1st day of October to the 9th day. I remember when I started to trade, beginner traders can not win all days. There is high possibility that a trader will forget to edit the leverage and use a very high leverage to open a position. And if the market go against the position's direction, the liquidation may be very fast. I have been having a very good October until few hours ago. I short a coin, I wanted to use 1x margin ratio but I mistakenly used 25x which got my trading money liquidated...
I very often see how beginners, after several successful trades, decide to increase their leverage in order to increase their profit in this way and eventually lose their deposit. Your story is very similar to what I described earlier.
I have been having a very good October until few hours ago. I short a coin, I wanted to use 1x margin ratio but I mistakenly used 25x which got my trading money liquidated.
If I have used 1x leverage, I would have won today with my strategy.
that's really bad man,. And tbh with you i have same experience as you and thanks god i don't use to gamble a huge amout especially on trading , i mean i always save for my self. Lol and also that's why i always double and triple check my order to prevent risky situation or to avoid massive losses. That's actually a big leason for me. And i hope you take that as well . If I have used 1x leverage, I would have won today with my strategy.
It's unfortunate that you had to be liquidated through no fault of your own.
Are you in a hurry by applying a margin ratio that initially wanted 1x instead of 25x, unconsciously you made a mistake because of greed?
Means that all your profits and capital are lost in a short time due to short coin?
Are you in a hurry by applying a margin ratio that initially wanted 1x instead of 25x, unconsciously you made a mistake because of greed?
Means that all your profits and capital are lost in a short time due to short coin?
Sometimes when we make a new step into our current trading situation that's the time we make a mistake if you think that having a new strategy doesn't work you for multiple times, it is better to test it out first in paper trading so you can make the same mistake every time you make a trade, if you think your current trade is good enough to you and give a consistent earning why not stick for a it for a while until you master and make a new milestone once you already confident on that trade, trading is consist of knowledge, experience and skills and you must need to develop these not in an instant of course.
It seems that you chasing something, that is why the result turned out that way with bad result: "the higher the margin is, the higher the risk is." You are near to liquidation if you keep using a higher margin unless you know how to manage risk or know where to set the stop-loss.
Next time, if you are in a rush or chasing something, always double or triple check your setup before you click the buy or sell position. This is a pretty common mistake, even me I sometimes set it to 25x or more than that without notice because of multiple views or tabs. I didn't know one of the tabs was set to a higher margin, that turns my position got liquidated pretty quickly.
The long leverage was 1x while the short was 25x. I only looked at the long and went for short position as I thought it was 1x. It happened and it was too late when I realized. Next time, if you are in a rush or chasing something, always double or triple check your setup before you click the buy or sell position. This is a pretty common mistake, even me I sometimes set it to 25x or more than that without notice because of multiple views or tabs. I didn't know one of the tabs was set to a higher margin, that turns my position got liquidated pretty quickly.
That can happen if you are not careful and check everything before you execute. Many of us are experienced like you so we must avoids that in the next trades.
There is no need to regret it too long because you still have more chances to recover from your losses. Be patient and careful this time so you will not have the same thing as before. You can make a big profit later and replace your losses.
There is no need to regret it too long because you still have more chances to recover from your losses. Be patient and careful this time so you will not have the same thing as before. You can make a big profit later and replace your losses.
When you say "mistakenly" do you mean you fat-fingered 25x or you intentionally used it because you became overconfident and greedy over the trade?
Anyway, if it's the latter — you probably already know the lesson here so telling you about it is a waste of time. Probably use 3-5x leverage at maximum next time.
Anyway, if it's the latter — you probably already know the lesson here so telling you about it is a waste of time. Probably use 3-5x leverage at maximum next time.
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I have been having a very good October until few hours ago. I short a coin, I wanted to use 1x margin ratio but I mistakenly used 25x which got my trading money liquidated.
If I have used 1x leverage, I would have won today with my strategy.
Quite unfortunate if you will ask me, but the fact that you've profiting for the past few days is already a good thing.If I have used 1x leverage, I would have won today with my strategy.
I mean winning on your trades on a daily basis sounds hard. You lost because of the wrong margin ratio but overall, I believe that you're still a good trader.
Being consistent in trading is hard. 1x ratio is quite low and it's a low-risk type of trading for me. You're good still I believe. Just go get another set of capital and do the same thing. People do make mistakes, and as long as you will learn from it then it's all good. I don't want to say to OP to hold some coins because if I will just base on that picture, I would say that he's a pro in trading already. Whatever the case is, just continue trading. This is a pretty common mistake that you can work on.
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